Blue Catalyst model goes abroad

By Itumeleng Mogaki for Blue Catalyst

Johannesburg, 11 Mar 2005

The Gauteng government`s Blue Catalyst initiative to assist "smart business ideas" is to implement its electronic network model at a US university.

Blue Catalyst is an online meeting place launched to boost new Gauteng business, using its virtual network of mentors, advisors and financiers to engage with entrepreneurs.

"The Bowie State University in Maryland, USA, renowned for its promotion of minorities, has licensed the technology of the Blue Catalyst portal, for use in its own virtual incubator network," says Kevin Connolly, "chief catalyst" from Blue Catalyst.

Connolly says there are still a few outstanding issues to sort out, and that as soon as they reach consensus, the next step would be the basis for implementation at the university.

"The agreement so far allows Blue Catalyst to retain the intellectual property rights of the source code. This will lead to a new approach to the way the portal is viewed, implemented and strategically executed," he says.

"Currently only the university has been licensed to implement the model, and they will have an open channel communication with the Blue Catalyst team members responsible for the model`s implementation.

"We will make all of our research and systems for early stage business incubation available to Bowie, in order to encourage the linking of business networks, as well as improving the workings of the portal and model."

Connolly says it is highly likely that after deploying the model at the university, international entrepreneurs, researchers and venture capital companies will implement it.